Question
The company owns the following assets: Land purchased on 5/1/2014 for $200,000. The land was placed in service on 6/1/2014. Building purchased on 5/1/2014 for
The company owns the following assets:
Land purchased on 5/1/2014 for $200,000. The land was placed in service on 6/1/2014.
Building purchased on 5/1/2014 for $655,000. The building was placed in service on 6/1/2014.
Screen printing machinery (7yr) purchased and placed in service on 6/1/2014 for $280,000.
Office furniture and fixtures (7yr) purchased and placed in service on 1/1/2015 for $55,000
Additional screen printing machinery (7yr) purchased and placed in service on 2/1/2019 for $235,000
Computer equipment (5yr) purchased and placed in service on 3/1/2019 for $35,000
Warehouse (39yr) purchased and placed in service on 9/1/2019 for $560,000
What is the depreciation expense using MACRS for the 2019 tax year? List each item and the total.
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